JERA president expects U.S. Freeport LNG shipments fully back by March

Published on November 29, 2022 04:39 PM AEDT

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TOKYO (Reuters) - Japan's biggest buyer of liquefied natural gas (LNG), JERA, expects U.S. Freeport LNG production will resume in mid-December, with its shipments expected to be fully back by March, President Satoshi Onoda said on Tuesday.

U.S. LNG company Freeport LNG said earlier this month it was targeting a mid-December restart for its Texas export plant, which has been shut for six months after a fire, pending regulatory approval.

JERA said in October it plans to book a 110 billion yen ($794 million) loss related to the Freeport LNG fire, mostly due to higher costs as it needed to buy alternative fuel from the soaring spot market.

(Reporting by Yuka Obayashi; Editing by Tom Hogue)

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